There is a good summary of what is required for a business plan in the social enterprise section of Business Link in London.
If you need help constructing your business plan we can provide it. Our team are experienced in assessing loan applications, so can help you construct a business plan document that will maximise your chances of obtaining the finance you need, whether that’s from ourselves or from other providers.
Financial Planning Models
We have built our own simple financial model to help you forecast your business. Basically you put in your monthly forecasts for cash flow, and the model produces annual balance sheets and profit & loss accounts. It is these three elements that a potential funder - whether grant or loan - will use to assess the viability of your business.
The model is in the form of Excel spreadsheets, and there are notes to accompany them. The basic model can be downloaded here and the notes here.
If you have any questions about how to use the model please contact us. You can adjust the model so that it fits the way your business works exactly; you can then use it for planning and monitoring for several years to come. Customising the model is part of the consultancy services for which we have to charge. Please ask us for an estimate for how much this will cost, as every case is different.
If you are not registered for VAT, you can download an alternative version of the model here, with notes here.
Other versions of the model are available, such as for start-ups.
Cash Book
It is a good idea to record your cash flow as and when it happens. This means that you can track your cash levels at all times, simplifies the preparation of your VAT returns and saves accountants’ fees as you will have done much of the work yourself. A simple model for doing this can be downloaded here and the results used as inputs for the financial planning model above.